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₹5 lakh personal loan

₹5 lakh personal loan, compared.

See what ₹5,00,000 could cost each month and what lenders look for. Then share your details once to hear from RBI-regulated banks and NBFCs.

Apply nowPlan your EMI

Example EMIs

What ₹5,00,000 could cost you each month.

TenureEMIInterestTotal
12 months₹44,424₹33,093₹5,33,093
24 months₹23,537₹64,882₹5,64,882
36 months₹16,607₹97,858₹5,97,858
60 months₹11,122₹1,67,333₹6,67,333

Example only, at 12% a year on a reducing balance, without fees. It is not an offer. Your rate, fees and tenure depend on the lender and your profile.

Try your own numbers

What lenders look at

What decides a ₹5 lakh loan.

Each lender weighs these differently. Firstfund doesn’t pull your credit report.

  • Your income

    Your monthly take-home pay and how steady it is.

  • Your existing EMIs

    Many lenders prefer all your EMIs, including the new one, to stay under about half of your take-home pay.

  • Your credit history

    Your credit score and repayment record, checked by the lender when you apply with them.

  • Job or business stability

    How long you’ve been in your job or running your business.

Before you choose

A big plan, a longer tenure.

₹5 lakh is often used for a wedding, a major home renovation, a medical procedure or education. Over 36 to 60 months the EMI is easier to manage, but the total interest grows, as the table above shows. For an amount this size, lenders usually want a steady income well above the minimum, a good repayment record and low existing EMIs. If you own a home, a home loan top-up may cost less: compare both.

Eligibility

Who can apply and what you need.

Each lender sets its own criteria. Keep these handy; you won’t need to upload them on Firstfund.

Who can apply

  • Indian resident
  • Age 21 to 60 years
  • Salaried or self-employed with regular income
  • Minimum monthly income of ₹15,000
  • A credit history that meets each lender’s policy

Documents lenders usually ask for

  • PAN card
  • Aadhaar (for KYC, with your consent)
  • Bank statements for the last 3 months (salaried) or 6 months (self-employed)
  • Salary slips (salaried) or ITR (self-employed)
  • Address proof, if different from Aadhaar

Good to know

Your rights as a borrower.

  • A Key Fact Statement before you sign

    The lender must give you a Key Fact Statement with the APR, every fee and the repayment schedule before you sign. It stays valid for at least three working days, and a fee that isn’t in it can’t be charged without your consent.

  • Prepaying a floating-rate loan

    For floating-rate personal loans sanctioned or renewed from 1 January 2026, lenders can’t charge a fee to prepay. Most personal loans have a fixed rate, so check the prepayment terms in the KFS.

  • Never pay to get a loan

    Firstfund doesn’t charge you to apply. A real lender pays the loan into your own bank account, deducts any processing fee shown in the KFS, and never asks for money upfront.

Based on Reserve Bank of India directions on Key Facts Statements (2024), pre-payment charges (2025) and digital lending (2025). Your lender’s KFS and loan agreement have the final terms.

Questions

₹5 lakh personal loan FAQs.

What salary do I need for a ₹5 lakh personal loan?

It depends on the lender, your existing EMIs and the tenure. A longer tenure lowers the EMI, which can make a loan easier to approve, but you pay more interest overall. Through Firstfund, the minimum is a monthly income of ₹15,000.

Can I get ₹5 lakh without collateral?

Personal loans are usually unsecured, so you don’t pledge an asset. Approval depends on your income and credit history.

How fast is the money paid out?

Often within a few working days once your KYC and documents are complete. The lender confirms the date and pays the money only into your own bank account.

What income do I need for ₹5 lakh?

It depends on the lender, the tenure and your existing EMIs. As an example, the EMI on ₹5,00,000 over 60 months at 12% a year is about ₹11,122. Lenders want that, plus your other EMIs, to sit comfortably within your take-home pay.

Does Firstfund charge me anything?

No. Sharing your details with Firstfund is free. Lenders may charge a processing fee, which they must show in the Key Fact Statement.

See all FAQs

Other amounts

Personal loans by amount.

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